DAVOS - RICH AND POWERFUL MEET, THAT'S ALL!

By Ruma Dubey

Every year in Davos, Switzerland, world leaders in business, politics and civil society gather to discuss the most pressing issues and opportunities facing the world.

When this year’s meet began yesterday, 17^th January, we could not help but wonder about the purpose of this meet. The slogan of this World Economic Forum at Davos is – Committed to improving the state of the world.

Seriously? The same day that the Davos meet begins, Trump takes oath as the President of USA. He epitomizes the world we live in today – closed borders over economic prosperity, complete intolerance, localization over globalization. And at the same time, there is Brexit where Britain has decided to shut down its open borders with Europe. Thus heckles and protectionism is peaking and we have this meet which aims to come together to make this world a better place.

The Davos has really not been able to do much – with so many world leaders coming on one stage, have they ever been able to predict or even prevent any financial crisis?

But it is what it is. The United Nations does not do much to prevent wars and human atrocities, yet it exists. That’s how it is with Davos too. The fact that it is gets such powerful people in one place at one time is what puts it in the news – the power of the guest list and not as much the agenda.

This time what makes Davos different is that China and not some western country will shine the brightest. It is actually a reflection of the changing dynamics of power; till a few years ago, China was not even a part of the World Economic Forum and today, it leads – this is apparent from schedule where Chinese President Xi was the first speaker which otherwise was usually scheduled for the US or British leader. Thus Davos in many ways is putting in perspective the ascendant position of China in the world today.

Actually it will be an irony of sorts – the Communist Chinese President plans to talk about globalization and wonders of free trade while capitalist Trump will take oath and talk about ripping apart the present free trade rule book. With Trump and Merkel, both the big and powerful away, Xi will take center stage, with his largest ever delegation at Davos, including Jack Ma and Wang Jianlin, another of China's richest men and chairman of the property developer Dalian Wanda.

It would not be wrong to say that it is these very elitists at Davos, failed to anticipate and maybe created the current anti-establishment movement all across the globe. Yes, the discussions and debates at Davos are intellectually stimulating but they remain that – mere discussions and theories whom the larger section of the world population views as “those out of touch with reality and with no inkling of the economic challenges which the masses actually face.”

One thing does happen though – huge business and political deals happen behind closed doors there; maybe some collateral benefits do accrue after all!

Who all are attending at Davos? These and many more…

• IMF Managing Director, Christine Laggard
• Khalid al-Falih, Saudi Arabia’s energy minister
• Sheryl Sandberg, CEO of Facebook
• Matt Damon and Forest Whitaker, Hollywood actors
• Joe Biden, outgoing US VP
• President Xi Jinping of China
• Singer and song writer, Shakira
• British PM, Theresa May
• Jack Ma, founder of Alibaba
• Bill Gates and Satya Nadella
• Joseph Stiglitz, Noble prize winning economist
• Jamie Oliver
• Female leaders of Bangladesh, Norway, Mauritius and Sweden